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GBP/USD - Price StructureWhat's up everyone, here we have GBP/USD on the 4h chart. The purpose of this post is to highlight the key price structure within the market... Refer to this chart whether you're going long or short. Price has been trading within the same area since October 2016 due to the flash crash, which created an all-time low in the market. I'll be keeping a close eye on this structure for a breakout, hopefully this will occur in the near future. Please feel free to leave your opinion below.
by LewisGlasgow
1
USD/CHF - Bullish GartleyHello traders, there are some amazing setups forming on the charts, here we have USD/CHF on the 4h chart with a bullish gartley pattern. This is an excellent opportunity with a solid 1:2 risk to reward! The D point aligns with the daily trendline, which further validates the reversal around 0.97500. The measurements for a valid gartley pattern are detailed below. B: 0.618 C: 0.382 - 0.886 D: 1.272 - 1.618 Final X to D: 0.786 If you want more trading inspiration be sure to connect with me on social media :)
Long
by LewisGlasgow
10
EUR/USD - Bullish BAMMWow this is huge! Today we have EUR/USD on the 4h chart with a bullish BAMM (Bat Action Magnet Move) setup . This is a follow up from my previous post (chart is shown below), where price formed a valid inverted head and shoulders pattern. Today's setup further validates the move up, as we have a bearish bat currently completing the C to D move. The measurements for a valid bat pattern are detailed below. B: 0.382 - 0.50 C: 0.382 - 0.886 D: 1.618 - 2.618 Final X to D: 0.886 To add to this price is currently trading within an ascending triangle, this structure is holding really well. Once I see a clear indication that price has broken and closed above the key resistance level (inverted head and shoulders neckline) I'll be going long. Green area displays the profit zone. I understand the BAMM theory will be relatively new to most traders, this style of trading simply focuses on a breakout of the B point. Feel free to connect with me below :)
Long
by LewisGlasgow
30
NZDCAD AnalysisYou may recall an an idea i posted back in 2016 regarding this pair; we have a bullish head and shoulders and price has broken resistance. However, there has not been enough economic activity to pull these two currencies apart in terms of value, thus, the exchange rate has not found its sense of direction. Resistance has now turned to a pivot point. Price will likely be squeezed in the form of a triangle pattern before there is a break in either direction- only time will tell. The pivot point runs directly through the middle of a gartley pattern; which I will walkthrough in a separate post.
by KyleMcQuade
EUR/NZD - Bearish Shark (500+ Pips)Hello traders, here we have EUR/NZD with a bearish shark pattern on the 4h chart. This is an excellent shorting opportunity with over 1:3 risk to reward, don't miss out on this one! The measurements for a valid shark are detailed below. C: 1.13 - 1.618 D: 1.618 - 2.24 Final X to D: 0.886 - 1.13 The D point forms at a strong level of resistance, therefore it is unlikely this pattern will form at an X to D of 1.13. This pattern could potentially turn into a 5-0 in the near future, after a successful short. Feel free to connect with me below :)
Short
by LewisGlasgow
5
Bearish 5-O CHFJPYUltimately a carbon copy of the USDJPY set up; the strengthening of the yen has produced another bearish 5-o movement. We have a solid support at 112.5 which has now been broken; price action dictates that a retest of resistance at the former support level would produce a bounce- at which we will enter and take profit at the C(4) point. Just like before, within the OXABCD (0,1,2,3,4,5) the C point is between the 1.619 and 2.24 extensions of the AB wave- the entry point is then 50% of the C wave. The pattern has been illustrated at the 1.618 level but may push closer to the 2.24 level. Should this be the case, the 50% retracement should be adjusted acordingly. 5-O Ratios B(3):1.13-1.618 C(4):1.618-2.24 D(5):50%
Short
by KyleMcQuade
Bearish 5-0 USDJPYAfter hitting resistance at 118.6, price has been in a downwards trend. Admittedly I have recently been looking for setups that support a bullish dollar and retest resistance at this level. This has not happened and I have decided to look at the potential set up that continues the weakening of the dollar and this trend's downtrend since the beginning of the year. Price bounced off support at 112 twice and has now broken through. Sticking to my preference of harmonic patterns, the 5-0 pattern suggests that price will reach the 161.8% extension of wave AB (2/3), and retrace 50% of the BC wave (3/4) before price continues in the downwards direction. a 50% retracement at this level would fit the bill as previous support would then becoming resistance. The 5-0 ratios identify the BC wave as an extension that should turn between 161.8% and 224%. If price edges past 224% then the pattern is not valid. If price turns after the 161.8% but still before the 224%, then the 50% retracement at which we enter should be adjusted accordingly. Good luck! 5-O Ratios B(3):1.13-1.618 C(4):1.618-2.24 D(5):50%
Short
by KyleMcQuade
EUR/AUD - Waiting for the BreakInteresting setup on the daily chart for EUR/AUD with a potential breakout, price is currently trading within a descending triangle and is approaching breaking point... Keep an eye on price action around 1.43000 for any indications of a false breakout and opportunity to short. I'm currently long on this pair from 1.38800 (check out my analysis by clicking the link below). www.tradingview.com Please feel free to leave your opinion below.
Short
by LewisGlasgow
7
USD/JPY - Bearish 5-0 Here we are looking at a bearish 5-0 pattern on the 1h chart with USD/JPY. As price continues to drop this week, we have an opportunity for price to reverse at the the C point measuring at 2.24. This is the maximum extension for the C point on the 5-0 pattern, which continues to leave the opportunity open for profit. The measurements for this pattern are coming in so perfectly that I will be opening a position to follow price from C to D point. The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50
Short
by cdschultheis15
CAD/CHF - Bullish Bat + Trend Channel BreakoutHere, we are looking a bullish bat on the 4h chart with CAD/CHF. With price breaking out of the top trend channel into the bottom trend channel, we can expect the market to make its way down to the bottom trend channel support line. Given the bat pattern and the support line from the bottom channel, we can not only get a better look at WHERE the price will reverse but WHEN. This is definitely a set up to keep an eye on in the next coming weeks. The market has given us an opportunity of a 1:5 risk to reward! The measurements for a valid bat pattern are detailed below. B: 0.382 - 0.50 C: 0.382 - 0.886 D: 1.618 - 2.618 Final X to D: 0.886
Long
by cdschultheis15